Decision details

To approve recommendations for purchase and sale of assets and terms of leases

(over £1m – Cabinet decision, under £1m – Cabinet Member decision,

in consultation with the Leader)

Part 2

The Cabinet considered the sale of 26 Nightingale Road, Guildford following the results of a marketing exercise by appointed Estate Agents.

It was RESOLVED that:

1.      The disposal of 26 Nightingale Road, Guildford, as set out in paragraph 1 of the report submitted, be approved subject to exchange of papers taking place within 21 days, with completion taking place within a further 28 days.

2.      Should completion not take place within the required timeframe, the Asset Strategy Partner, in consultation with the Cabinet Member for Assets and Regeneration Programmes, be authorised to pursue completion with the other bidders on the basis of the same timeline as set out above.

Reason for decision

To expedite the sale of a property no longer required for service reasons, to reduce the cost of managing an empty property and to maximise potential receipts without additional risk.